Legislation introduced on Feb. 2 by U.S. Sens. Rob Portman (R-OH) and Deb Fischer (R-NE) would require regulatory impact analyses for certain federal rules in an effort to free American employers from government mandates so they can create more jobs and compete globally.
The Unfunded Mandates Accountability and Transparency Act, S. 170, would require agencies to assess the effect of unfunded regulations on jobs and consider market-based, flexible and non-governmental alternatives to agency rules, and allow public input earlier in the rulemaking process to develop such alternatives, according to a bill summary provided by Sen. Portman’s office.
“As we continue to recover from the economic impacts of COVID-19, Nebraskans still find themselves out of work,” Sen. Fischer said. “By engaging with the public to choose the least burdensome regulatory options, this bill will create more jobs and boost our economic recovery.”
“This bill engages the public in finding creative, effective solutions that impose fewer burdens on state, local, and tribal governments, as well as the private sector,” added Sen. Portman. “More effective, efficient regulations will allow employers to invest more in their companies, bolster our economic recovery, and help get Americans back to work.”
If enacted, S. 170 also would require federal agencies to choose the alternative that maximizes net benefits, unless the Office of Information and Regulatory Affairs Administrator approves another option that accounts for unquantifiable costs or benefits, among other provisions.
U.S. Reps. Virginia Foxx (R-NC) and Henry Cuellar (D-TX) are leading companion legislation in the U.S. House of Representatives.